Continuing its strategy of targeted acquisitions financed out of cash flow, Legrand announced the acquisition of TCL Wuxi, a Chinese firm specializing in modular and high-current circuit-breakers for residential, commercial and industrial applications.
With TCL Wuxi, Legrand, already active in the energy-distribution segment in China, will significantly reinforce its offering and market presence. This is in line with a strategy designed to make the most of the exceptional growth potential of the Chinese market, where Legrand is already number one for both wiring devices and audio and video access controls.
TCL Wuxi, which reports sales of close to EUR20 million, draws strength from its high-profile brand and quality industrial processes. A sales force of 200 working in close cooperation with distributors makes an ideal match for Legrand's existing sales teams, which include over 1,000 staff members present in all major cities in China. Moreover, a dedicated team of over 40 engineers ensures the renewal of product lines.